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Trump Plans to Revive TikTok with a 50% U.S. Ownership Stake
TikTok Faces Immediate Shutdown in the U.S.
On Saturday, TikTok ceased functioning for its 170 million American users, just before a law banning the app went into effect on Sunday. The law, passed due to national security concerns, aims to address potential misuse of American data by the app’s Chinese parent company, ByteDance.
Trump’s Plan to Revive TikTok
President-elect Donald Trump has stated his intention to revive TikTok by executive order following his inauguration. However, he is demanding that U.S. investors own at least 50% of the company. Trump has pledged to extend the deadline for TikTok’s shutdown, enabling a potential deal to safeguard national security while keeping the app operational.
Impact on U.S.-China Relations and Global Politics
The TikTok ban represents an unprecedented move in U.S.-China relations, with the Chinese government accusing the U.S. of unfairly targeting the app. The situation highlights growing tensions over Chinese tech companies operating in the U.S. and the increasing scrutiny over data privacy concerns.
Users Seek Alternatives
With TikTok no longer available in U.S. app stores, users quickly turned to alternatives like the China-based RedNote. This shift has led to stock price increases for rivals such as Meta and Snap, as investors anticipate a migration of TikTok users.
Growing Demand for VPNs
As many users seek ways to bypass the ban, there has been a surge in VPN usage, with services like NordVPN reporting technical difficulties due to increased demand. This indicates the strong desire among users to regain access to TikTok, despite the legal restrictions.
TikTok’s CEO Attends U.S. Presidential Inauguration
TikTok’s CEO, Shou Zi Chew, is expected to attend the U.S. presidential inauguration and rally with Trump, signaling ongoing efforts to negotiate a resolution to the platform’s future in the U.S.
Potential Deal for TikTok’s U.S. Operations
Interest in TikTok’s U.S. operations has intensified, with high-profile figures such as former Los Angeles Dodgers owner Frank McCourt and Tesla CEO Elon Musk reportedly in talks to acquire the platform’s American branch. TikTok’s parent company, ByteDance, is also exploring options for a sale or restructuring of its U.S. operations.
The Future of TikTok Remains Uncertain
As negotiations continue, TikTok’s fate in the U.S. hangs in the balance. The platform’s potential revival will depend on a complex mix of political, business, and national security considerations. The outcome will likely shape the future of digital platforms and international relations.